Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of sodium bicarbonate at the beginning of the week was 1,538.6 RMB/ton, and the average market price of sodium bicarbonate over the weekend was 1,518 RMB/ton, a decrease of 1.34% in price and a decrease of 35.6% compared to the same period last year.

On March 27th, the Business Society sodium bicarbonate Index was 101.28 points, a decrease of 0.27 points from the previous day, a decrease of 57.06% from the highest point of 235.84 points during the cycle (November 10, 2021), and an increase of 14.74% from the lowest point of 88.27 points on December 22, 2020. (Note: Cycle refers to September 1, 2020 to present)

Analysis review

According to the commodity analysis system of SunSirs, the price of sodium bicarbonate was running weakly, and the company's shipments were still acceptable. The price of sodium bicarbonate in Henan region was operating steadily, with a factory price of 1,400-1,550 RMB/ton in Henan region and 1,500-1,700 RMB/ton in Shandong region. Due to downstream demand based procurement, it is expected that consolidation and operation will be the main focus in the later stage.

Upstream: According to the commodity analysis system of SunSirs, the price of soda ash has remained stable this week. The average market price from the beginning of the week to the end of the week was 1,480 RMB/ton, a decrease of 24.49% compared to the same period last year, and downstream purchases were mostly made on demand.

Market outlook

SunSirs’ analysts believe that the price of sodium bicarbonate has been consolidating recently, with the upstream raw material soda ash generally operating in the recent times. Downstream sodium bicarbonate was mostly purchased on demand in pharmaceuticals, textiles, food, and other fields, with average demand enthusiasm. It is reported that a new 200,000 tons/year sodium bicarbonate project will start construction in early March at Shandong Haihua. At that time, production capacity will increase, and the form of sodium bicarbonate will be even more pessimistic. It is expected that sodium bicarbonate prices will mainly fluctuate in the later stage, depending on downstream market demand.

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